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Roaring Kitty's GameStop Livestream Sparks Market Turmoil and Scrutiny

Jun 7, 2024

Roaring Kitty's GameStop Livestream Sparks Market Turmoil and Scrutiny
Roaring Kitty's GameStop Livestream Sparks Market Turmoil and Scrutiny
Roaring Kitty's GameStop Livestream Sparks Market Turmoil and Scrutiny

On June 7, Keith Gill, known as Roaring Kitty, made headlines with his first YouTube livestream in three years, revealing significant losses of $235 million as GameStop (GME) shares plummeted from previous highs. Gill disclosed holding call options on 12 million shares of GameStop, which compounded market volatility, prompting trading halts six times that day. His announcement triggered widespread scrutiny and potential repercussions from platforms like E*trade considering his removal over market manipulation concerns. GameStop itself clarified that the stock surge did not reflect its operational performance amidst the tumultuous trading session.